LONDON, Sept. 28, 2016 /PRNewswire/ -- "Pest control market projected to grow at a CAGR of 5.3% from 2016 to 2021"
The pest control market is projected to reach USD 22.04 billion by 2021 at a CAGR of 5.3% from 2016. The market is driven by factors such as easy availability of pest control service providers, climate changes, economic development, and increasing pest population. With the increase in disposable income, the demand for a hygienic environment increases, thus driving the demand for advancements in pest control techniques. Regulatory requirements such as environmental protection laws and changing government policies across diverse regions are restraining factors for pest control product manufacturers and service providers.
"Biological control to be the fastest-growing segment from 2016 to 2021."
The biological control segment is projected to grow at the highest CAGR from 2016 to 2021. Parasites, pathogens, and predators are the beneficial insects which play a vital role in biological control methods to manage pests and control damage. These are also known as natural enemies which is important for reducing the numbers of pest insects and mites.
"Termites segment will lead the market by 2021."
Termites need moist conditions to breed and thrive. Drastic climatic changes have resulted in an increase in termite population, which will require more pest control solutions. Control methods of termites vary with the species to be controlled, hence driving the pest control market in the coming years. The termites segment is projected to grow at the highest CAGR during the forecast period.
"Asia-Pacific market to grow at the highest CAGR between 2016 and 2021."
The increase in awareness about modern pest control practices, food dependence on the agricultural sector in India and China, and demand for maintaining hygienic environmental conditions are expected to fuel the growth of the pest control market in the Asia-Pacific region. China and India are among the top five countries producing rice and wheat. As the production of these commodities is high, they need pest control products to avoid post-harvest losses.
The breakdown of primaries on the basis of company, designation, and region, conducted during the research study is as given below.
By Company Type: Tier 1 – 20%, Tier 2 – 45%, and Tier 3 – 35%
By Designation: Director level – 22%, C Level – 28%, and Others – 50%
By Region: North America – 18%, Europe – 25%, Asia-Pacific – 45%, and RoW – 12%
Major players are:
- BASF SE (Germany)
- Bayer AG (Germany)
- Ecolab (U.S.)
- Syngenta AG (Switzerland)
- Rentokil Initial plc (U.K.)
These companies collectively accounted for the largest portion of the pest control market in 2015. Other players with a strong presence in this market include:
- FMC Corporation (U.S.)
- Rollins, Inc. (U.S.)
- Terminix International Company L.P. (U.S.)
- Bell Laboratories Inc. (U.S.)
- The Dow Chemical Company (U.S.)
Reasons to buy this report
From an insight perspective, this research report has focused on various levels of analyses—industry analysis (industry trends), market share analysis of top players in the pest control industry, supply chain analysis, and company profiles, which together comprise and discuss the basic views on the competitive landscape—emerging and high-growth segments of the global pest control market; high-growth regions; and market drivers, restraints, and opportunities.
The report provides insights on the following:
- Market Penetration: Comprehensive information on pest control products offered by top players in the global market
- Product Development/Innovation: Detailed insights on upcoming pest control techniques, research & development activities, and new product launches in the pest control market
- Market Development: Comprehensive information about lucrative emerging markets
- Market Diversification: Exhaustive information about new products, untapped regions, recent developments, and investments in the global pest control market
- Competitive Assessment: In-depth assessment of market share, strategies, products, and manufacturing capabilities of leading players in the global pest control market
This research report categorizes the pest control market based on type, application, pest type, and region. Based on type, the market has been segmented into chemical control, mechanical control, and biological control. According to application, the market has been segmented into commercial, industrial, residential, and agricultural. Based on pest type, the market has been segmented into insects, termites, rodents, and wildlife. Regional segmentation of the market includes North America, Europe, Asia-Pacific, and RoW (Rest of the World).
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